Posts Tagged ‘environmentalism’

I keep pouring news items into the next Texas vs. California Roundup bucket, but there’s so much in there it’s ceased to be a bucket, zoomed past bathtub, eclipsed swimming pool, and is now looking more like a flood retention pond. Maybe next week, if everything breaks right.

But one of the topics sloshing around there is the travails of Elon Musk’s media-darling electric car company Tesla. And there’s just enough news there to do a Tesla-only roundup:

Tesla has no one who can run the new robotic welders – they are finding it impossible to regulate and apply the right amount of heat to do high-speed welding. He said that while Tesla may have the right robots, making them production ready is a highly specialized skill set and they don’t have it. His company was told to reduce production for the foreseeable future, until further notice, and produce to order, not in high volume.

Seeking Alpha has a lot more information on why many of Tesla plans and projections are mostly pie-in-the-sky dreaming.

And one of their writers goes so far as to say that, structurally, Tesla is doomed to failure. Including this pretty damning sentence: “The more cars it sells the more cash it burns.”

California considers giving Tesla a $3 billion bailout, just as Tesla’s federal rebates are phased out. Because there’s no better use of taxpayer money than subsidies for status symbol cars for rich people.

It seems fairly clear at this juncture that Tesla was founded on more green energy hype than a solid business model, and that Musk probably should have focused on making one ambitious, capital-intensive startup profitable, not the (four? five? six? seven?) he’s founded since cashing out of PayPal. (In addition to Tesla and Solar City, there’s also Space X, Hyperloop, The Boring Company, Neuralink, and the (non-profit) OpenAI. Of course, right now, all Musk’s current ventures are “non-profit”…)

Musk is one of those classic boy-makes-good American stories you want to root for, but in splitting his focus, and not realizing how very much harder and more capital-intensive hardware development is than software development, Musk’s story looks a lot more like an even older story: hubris clobbered by nemesis.

Long lines for gasoline in Austin and elsewhere in the state have dissipated for the most part along with the short-lived, social media-fueled frenzy over fears of a severe shortage.

Motorists remain more likely than before Hurricane Harvey hit to encounter the occasional empty filling stations, and gas prices remain elevated, but “the run (on gas) has stopped,” said Cary Rabb, owner of the Round Rock-based Wag-A-Bag convenience store chain.

“It’s the panic buying that has stopped — at some point, everybody has topped off,” Rabb said.

In addition, gasoline supplies are becoming more accessible as Gulf Coast refineries and pipelines slowly come back on line after being closed since Harvey made landfall.

Flint Hills Resources — which operates a Corpus Christi refinery that provides the bulk of gasoline dispensed at Austin area gas stations — “has resumed normal operations,” company spokesman Andy Saenz said Wednesday. The Flint Hills refinery had been shut down since the storm hit, leaving area fuel distributors to tap reserves.

Flint Hills pumps gasoline to an Austin terminal east of Interstate 35 through a pipeline, where it’s picked up by distributors with tanker trucks and transported to local gas stations.

Between 2007 and 2014, Florida’s daily gasoline consumption shrank significantly — by about 90,000 barrels. In 2012, two Caribbean refineries that had supplied Florida with a significant share of its gasoline were idled, leaving Florida more dependent upon refineries located along the Gulf Coast. That’s all well and good when the weather is fair, but Hurricane Harvey disrupted things. For one thing, it forced the shutdown of several refineries in the Houston area. For another, it made navigating the Gulf of Mexico treacherous — you don’t want to sail an oil barge into a hurricane. And there is no gasoline pipeline connecting those Gulf Coast refineries to Florida: that trade is conducted by boat. Pipelines are the cheapest and safest way to move petroleum products from producers to consumers, but America’s fanatical environmentalists, who oppose the development of new energy infrastructure categorically, have been remarkably successful in blocking or delaying the development of new pipelines.

So far Irma seems to have devastated the Caribbean, but damage to Florida seems to be less than feared for such a large storm.

This didn’t get done while I was doing my taxes, but here, at last, is another giant Texas vs. California update:

Appeals court finds San Diego’s pension reform legal. “California’s Fourth District Court of Appeal unanimously overturned a 2015 state labor board ruling that said the cutbacks were illegal because of then-Mayor Jerry Sanders’ involvement in the successful citizens’ initiative that made the changes.” San Diego transitioned to a 401K style program. Naturally public employee unions screamed bloody murder and sought to have the reforms overturned. (Hat tip: Pension Tsunami.)

Every year from 2000 through 2015, more people left California than moved in from other states. This migration was not spread evenly across all income groups, a Sacramento Bee review of U.S. Census Bureau data found. The people leaving tend to be relatively poor, and many lack college degrees. Move higher up the income spectrum, and slightly more people are coming than going.

About 2.5 million people living close to the official poverty line left California for other states from 2005 through 2015, while 1.7 million people at that income level moved in from other states – for a net loss of 800,000. During the same period, the state experienced a net gain of about 20,000 residents earning at least five times the poverty rate – or $100,000 for a family of three.

Snip.

The leading destination for those leaving California is Texas, with about 293,000 economically disadvantaged residents leaving and about 137,000 coming for a net loss of 156,000 from 2005 through 2015. Next up are states surrounding California; in order, Arizona, Nevada and Oregon.

Hat tip for the above is this Zero Hedge piece, which notes “By some measures, California has the highest poverty rate in the nation. And as more and more residents leave, the burden to fund the state’s welfare exuberance will fall more and more on the wealthier (that actually pay taxes). Rather than secession, perhaps it’s time for the wealthy to join ‘the poor’ exodus and beat the crowd out of California…”

Living in a place where it is less of a struggle to pay the rent or make the mortgage payment does indeed chill most everybody out a little bit. But it is not at all obvious that what Houston — or Texas at large — enjoys is in fact a culture that is generally welcoming to immigrants in a way that is different from Scottsdale or Trenton or Missoula. What Texas does have is something close to the opposite of that: a large and very well-integrated Mexican-American community. Anglos in Texas aren’t welcoming to Latinos because we are in some way uniquely open to the unfamiliar, but because they are not unfamiliar.

This matters in ways that are not obvious if you didn’t grow up with it. My native West Texas, along with the whole of the border and much of the rest of the state, has a longstanding, stable Anglo–Latin hybrid culture. Houston does, too, but Houston, being a very large city, is a little more complicated; I had lunch yesterday with a conservative leader who chatted amiably with the staff in Spanish at . . . an Indian restaurant.

That robust hybrid culture ensures that the people Anglos hear speaking Spanish are not always poor, not mowing the lawn or cleaning a hotel room, that they are not usually immigrants, not people who cannot speak or read English — not alien. They are neighbors who, if you are lucky, make Christmas tamales. And they might be your employer or your employee, the guy who sells you a car or approves your car loan, a pastor at your church, a professor, a member of your Ultimate Frisbee team . . . or an illegal immigrant, or a criminal, or someone who is in some way unassimilated, alien, or threatening. When one out of three people in your county is “Hispanic” — a word that in Texas overwhelmingly means “Mexican-American” — then you tend to know Hispanic people of all descriptions: the good, the bad, and the ordinary.

That is not the case in, say, Arlington, Va., which does not have a large and well-assimilated Mexican-American population but does have a large and poorly assimilated population of Spanish-speaking immigrants. The two things are not the same — more like opposites. Add to that the fact, sometimes lost on Anglos, that there is no such thing as a “Hispanic” culture or population, that people with roots in Mexico do not think of themselves as being part of a single cultural group that includes people from Central America and South America. A while back, I heard an older fellow of Mexican background complaining about the Guatemalans moving into his area — and he was an illegal immigrant. That’s a funny reality: In Texas, even some of the illegals don’t think that we can let just anybody cross the border. But ethnic politics is a strange business: In West Texas, young whites without much money (college students and the like) who would never for a moment seriously consider moving into a low-income black neighborhood will not give a second thought to moving into a largely Hispanic neighborhood.

All of which is not to say that Texas does not have a fair number of poorly assimilated Spanish-speaking immigrants: It surely does, especially in the big cities. (People forget how urban Texas is: Six of the 20 largest U.S. cities are in Texas.) But it is easier to accommodate — and, one hopes, to assimilate — those newcomers when you have a culture of mutual familiarity and trust, which is based not on newcomers but on oldcomers. Texas’s ancient Mexican-American community — whose members famously boast, “We didn’t cross the border, the border crossed us!” — is a kind of buffer that makes absorbing newcomers less stressful.

Huntington Beach residents Chris Birtwistle and Allison Naitmazi were about to get married and decided it was time to buy a home.

They wanted to stay in the area but couldn’t find a house they both liked and could reasonably afford — despite a dual income of around $150,000.

So they decided to go inland — all the way to Arizona, where they recently opened escrow on a $240,000, four-bedroom house with a pool just outside Phoenix. Their monthly mortgage payment will be about $500 less than what they paid for a two-bedroom apartment in the Orange County beach community.

#2 Out of all 50 states, the state of California has been ranked as the worst state for business for 12 years in a row…
#3 California has the highest state income tax rates in the entire nation. For many Americans, the difference between what you would have to pay if you lived in California and what you would have to pay if you lived in Texas could literally buy a car every single year.
#4 The state government in Sacramento seems to go a little bit more insane with each passing session.
#5 The traffic in the major cities just keeps getting worse and worse. According to USA Today, Los Angeles now has the worst traffic in the entire world, and San Francisco is not far behind.

With no choice, there is no competition, unless you are wealthy enough to leave the state for medical care. However, this is a golden opportunity for medical tourism companies!

There will be a limited supply of doctors, as those who don’t want to go through the bureaucratic hoops for procedures and payment will also leave the state.

Clinicians will be forced to make their treatment decisions based on the state-run rules: Why choose surgery when a pill will do?

Shockingly, some funds need to be directed to other budget items instead of perks for illegal aliens (refer to Oroville Dam for a handy reference).

Medicare, the system that is the foundation for this proposal, is rife with waste, fraud and abuse (e.g., 3 Floridians bilked the system for $1 billion).

Co-pays and deductibles will be transformed into monies paid for non-state government healthcare services (like the Canadians who cross into the United States to obtain MRI’s and other innovative treatments).

Public oversight will translate into political wheeling-and-dealing strictly for the benefit of those plugged into the rigged system. An indication that Sacramento may be headed for such a system, I offer this piece published in The Sacramento Bee for consideration: Why California must accept more corruption.

The cost of drugs has soared, despite Obamacare. As an example, I had a skin medication that would cost me $150 for an annual supply. The same medication now costs nearly $1000 a year, and I no longer use it.

In order to further bestow members of the ruling Democratic coalition with rights and privileges mere citizens don’t enjoy, California’s Senate Bill 807 proposes making teachers exempt from state income tax. Some pigs are evidently way, way more equal than others…

California hikes its gas taxes yet again, making them the highest in the nation.

Pension liabilities are pinching in Gilroy, California: “Gilroy’s three biggest public employers have amassed more than $183 million in unpaid pension liabilities. That’s likely more than ever, and a figure that, absent major reform, will grow and siphon budget funds from essential public services, say officials and pension experts. In Gilroy, 23 city pensions exceed $100,000 and more than 60 exceed $70,000.” (Hat tip: Pension Tsunami.)

Silicon Valley slows down. “Tech companies in San Francisco and San Mateo counties lost 700 jobs from January to February and tech employment has dropped by 3,200 jobs since hitting a peak last August.”

What the lords of Silicon Valley actually think: “Inequality is a feature, not a bug.”

“Hotel construction continues apace in the United States, and dozens of new properties are expected to open this year in two major corporate and tourist destinations, New York and Los Angeles. But the three other cities with the most hotels projected to open in 2017, according to the industry research company STR, are all in Texas — Dallas, Houston and Austin.” Notice the implied condescension in the NYT piece: New York and LA are real places, whereas Dallas, Houston and Austin are “other cities.”

More:

The number of new hotels in Texas is notable. In 2017, Marriott plans to open eight hotels in Austin, seven in Houston and 23 in the Dallas-Fort Worth area, according to the company. Ninety-two other Marriott hotels are in the planning stages for the three metro areas. Hilton says it is planning for 75 new hotels there. InterContinental Hotels Group has more than 100 hotel projects in the Austin, Dallas and Houston metro areas, including the Candlewood Suites, Crowne Plaza, Even Hotels, Holiday Inn Express, Holiday Inn, Hotel Indigo, InterContinental Hotels and Resorts and Staybridge Suites brands.

Austin is home to the state capital; the University of Texas at Austin, a campus with 50,000 students; and a long list of technology companies. Its growing recreation and dining scene is attracting more leisure travelers, filling guest rooms on weekends and making the city “more of a seven-day-a-week hotel market,” according to Tim Powell, the managing director for development for Hilton’s southwest region.

“A state senator is removed from the chamber for her comments about Tom Hayden and Vietnam.” Namely for noting that Hayden supported “a communist government that enslaved and/or killed millions of Vietnamese, including members of my own family.” Sen. Janet Nguyen (R-Garden Grove) came to America as a Vietnamese refugee, and Democrats were incensed she was allowed to speak truth to power when it came to hagiography for one of their own. (Hat tip: Instapundit.)

February’s quarterly auction of carbon dioxide emission allowances under California’s cap and trade program was another financial washout for the state.

Results for last week’s auction were posted Wednesday morning, revealing that just 16.5 percent of the 74.8 million metric tons of emission allowances were sold at the floor price of $13.57 per ton.

The state auctions emission allowances to polluters and speculators as part of its program to reduce greenhouse gases. The proceeds are supposed to be spent on public programs to slow climate change.

February’s auction is being closely watched by market analysts because the last three quarterly auctions in 2016 posted sub-par results.

Almost all of February’s proceeds went either to California’s utilities, who sell allowances they receive free from the Air Resources Board, or the Canadian province of Quebec, which offers emission allowances through California. Both are first in line when auction proceeds are apportioned.

The ARB was offering 43.7 million tons of state-owned emission allowances, but sold just 602,340 tons of advance 2020 allowances, which means the state will see only $8.2 million, rather than the nearly $600 million it could have received from a sellout.

San Rafael has the the highest pension costs in California by percentage of their total budget (18%). “Money that goes to one thing can’t go to another thing, so if you’re spending almost $1 out of $5 on pension payments, that is a lot less money available for tangible public services such as filling potholes, keeping the library open and making sure there is sufficient police protection.”

Remember Anthony Silva, mayor of formerly bankrupt Stockton? He’s been arrested again, this time for embezzling “at least $74,000 from the Stockton Kids Club over the past five years.” That would be the same Anthony Silva who is a member of Mayors Against Illegal Guns, whose own guns were stolen and used in crimes, and who was also arrested for “for playing strip poker with minor and giving them alcohol while at a youth camp.” Given such august leadership, I can’t imagine how Stockton went bankrupt… (Hat tip: Dwight.)

I would like to celebrate Austin Austin having the shortest commute time in this study of major cities except, since I now experience that commute time every weekday, I can tell you that 16 minute estimate is utter crap. Maybe Austin is the best if the commute time for other cities is similarly underestimated. By contrast, the Austin rental rate of $476 a week seems slightly high, while the London rate of $489 a week seems way too low…

Los Angeles-based fashion company Nasty Gal declares bankruptcy. Also, nice proofreading on this subhead, LA Times: “Why couldn’t they the company hold on to shoppers?” Note: That’s still up for a story published February 24th…

First up: Liberalism’s continued idée fixe on the “Russians hacked the election” fantasy.

If Trump had actually been in the pay of the Russians, Wayne Barrett, who worked the Trump beat for the Village Voice for 40 years, would have known about it. “Wayne Barrett had this file for 40 years, and if neither he nor the reporters he trained got this story, it’s not a story.”

This obsession with Russia conspiracy tales is poisoning all aspects of U.S. political discourse and weakening any chance for resisting Trump’s actual abuses and excesses. Those who wake up every day to hype the latest episode of this Russia/Trump spy drama tell themselves that they’re bravely undermining and subverting Trump, but they’re doing exactly the opposite.

This crazed conspiracy mongering is further discrediting U.S. media outlets, making Washington seem even more distant from and irrelevant to the lives of millions of Americans, degrading discourse to the lowliest Trumpian circus level on which he thrives, and is misdirecting huge portions of opposition energy and thought into an exciting but fictitious spy novel – all of which directly redounds to Trump’s benefit.

Snip.

Above all else, it’s because it’s an offensive assault on reason. This kind of deranged discourse is an attack on basic journalistic integrity, on any minimal obligation to ensure that one’s claims are based in evidence rather than desire, fantasy, and herd-enforced delusions. And it’s emanating from the most established and mainstream precincts of U.S. political and media elites, who have processed the severe disorientation and loss of position they feel from Trump’s shock election not by doing the work to patiently formulate cogent, effective strategies against him, but rather by desperately latching onto online “dot-connecting” charlatans and spewing the most unhinged Birther-level conspiracies that require a complete abandonment of basic principles of rationality and skepticism.

Nate Silver at 538: “There Really Was A Liberal Media Bubble.” Silver comes to many of the same conclusions about MSM blinders that conservatives have been making for years. A few samples:

“Much of The New York Times’s coverage, for instance, implied that Clinton’s odds were close to 100 percent.”

“In a country where educational attainment is an increasingly important predictor of cultural and political behavior, some 92 percent of journalists have college degrees. A degree didn’t used to be a de facto prerequisite7 for a reporting job; just 70 percent of journalists had college degrees in 1982 and only 58 percent did in 1971.”

“The political diversity of journalists is not very strong, either. As of 2013, only 7 percent of them identified as Republicans.”

“All things considered, then, the conditions of political journalism are poor for crowd wisdom and ripe for groupthink.”

The headline is “Battle for Manbij shows Syria’s civil war is almost over – and it looks like Bashar Assad has won.” And that’s part of it. But there’s a lot of information on just how complex the Syrian-Iraqi battlespace is:

Winners and losers are emerging in what may be the final phase of the Syrian civil war as anti-Isis forces prepare for an attack aimed at capturing Raqqa, the de facto Isis capital in Syria. Kurdish-led Syrian fighters say they have seized part of the road south of Raqqa, cutting Isis off from its other territory further east.

Isis is confronting an array of enemies approaching Raqqa, but these are divided, with competing agendas and ambitions. The Syrian Democratic Forces (SDF), whose main fighting force is the Syrian Kurdish Popular Mobilisation Units (YPG), backed by the devastating firepower of the US-led air coalition, are now getting close to Raqqa and are likely to receive additional US support. The US currently has 500 Special Operations troops in north-east Syria and may move in American-operated heavy artillery to reinforce the attack on Raqqa.

This is bad news for Turkey, whose military foray into northern Syria called Operation Euphrates Shield began last August, as it is being squeezed from all sides. In particular, an elaborate political and military chess game is being played around the town of Manbij, captured by the SDF last year, with the aim of excluding Turkey, which had declared it to be its next target. The Turkish priority in Syria is to contain and if possible reduce or eliminate the power of Syrian Kurds whom Ankara sees as supporting the Kurdish insurrection in Turkey.

“The U.S. military is sending an additional 2,500 ground combat troops to a staging base in Kuwait from which they could be called upon to back up coalition forces battling the Islamic State in Iraq and Syria.” So instead of following Obama’s strategy of losing slowly and expensively, President Trump’s goal appears to be to crush the Islamic State entirely.

“Marine Le Pen: ‘France Isn’t Burkinis on the Beach, France is Brigitte Bardot.'” France is a lot of things, but they could certainly do worse than Brigitte Bardot…

School restages Trump-Clinton debates, but with a woman playing Trump and a man playing Hillary. Result: Hillary loses even more badly than before. “It seems to me that Hillary’s gender actually covered up her flaws, such as inauthenticity, scriptedness, recitations of pablum, and fake-smiling, while, when she was played by a male actor, those flaws were suddenly very visible to the people who think of themselves as ‘gender-woke’ but maybe should just think of themselves as gender partisans.”

“100 of the 544 Women’s March partners received a total of $246,637,217 from [George] Soros between 2000 and 2014. Soros gave more than $1 million to 36 of those partners, including the Center for Reproductive Rights, MoveOn.org, and the Natural Resources Defense Council.” (Hat tip: The Other McCain.)

Washington Examiner writer finds the perfect place to visit on the “Day Without Women”: Hooters. I guess that’s an excuse to break out this classic:

Lawsuit of man wrongly expelled from Amherst for a “rape” that consisted of him receiving a blowjob while he was passed out can move forward after a judge’s ruling.

“Defense contracting firm owners Jeffrey Harrington and Michael Mayer, and employee sisters Kimberlee Hewitt and Natalee Hewitt, pleaded guilty in U.S. District Court in California to conspiracy to commit wire fraud and file false claims for using their companies — Veteran Logistics, Inc., Industrial Xchange, Inc., and Boston Laser Technology, Inc. — to sell the government $45 million worth of mostly incorrect and overpriced products.” As far as I can tell, this naval contracting scandal is unrelated to the Fat Leonard naval contracting scandal. Did the Navy just forget to hire auditors?

Here’s something on the surface that seems like a small local story, but it’s one that could potentially have huge national implications.

The Texas Public Policy Foundation (TPPF)’s Center for the American Future representing Williamson County resident John Yearwood and Williamson County, Texas today filed suit to intervene into the pending lawsuit seeking delisting of the Bone-Cave Harvestman from the Endangered Species Act. Mr. Yearwood and Williamson County, Texas challenge the authority of the federal government to use the Interstate Commerce Clause to regulate non-commercial interactions with the Bone Cave Harvestman arachnid, which only exists in two central Texas counties, is not bought nor traded in interstate commerce, and does not otherwise affect interstate commerce.

“This lawsuit centers around respect for the rule of law and recognition that the Constitution establishes our federal government as having limited, enumerated powers,” said Robert Henneke, director of the Center for the American Future at the Texas Public Policy Foundation. “Congress has the power to regulate commerce among the states, i.e. Interstate commerce. Congress’ Commerce power through the Endangered Species Act should not, therefore, extend to regulate the Bone-Cave Harvestman species – an intrastate cave-arachnid existing only in caves in Central Texas without any commercial value. For there to be rule of law, there must be limits to government power.”

The Interstate Commerce Clause is the camel’s nose by which the federal government has stuck its vast regulatory powers into just about every crevice of the body politic. Because the Williamson cave spider case clearly has no impact on interstate commerce, there’s the potential for the case to unravel a whole host of intrusive New Deal-era commerce clause rulings, of which Wickard vs. Filburn is probably the most egregious.

There’s no guarantee the case will get to the Supreme Court, but if it does…

First, there is no state income tax in Texas. Some people know this and some don’t—few really grasp what it means practically. It means that if you make decent money and decide to move here and rent something affordable, it’s essentially free to live in Texas. If you make $150,000 a year, your state income taxes in California are roughly $12,000 per year (in NYC it’s closer to $15,000). Or, you can put a thousand bucks a month toward your rent here. If you decide to buy, property taxes are high—but what you get for the money more than makes up for it. My editor at the Observer recently tried to cajole me into coming back to New York. Our house now—which has its own lake and is 29 minutes from the airport which never has lines—costs less than the rent we were paying for our lofted studio apartment in Midtown. Are you kidding?

Evidently California’s Democratic politicians stay up late at night devising ways they can make the state go broke even faster. The answer: Host the Olympics again.

Korean-owned businesses in LA consider relocating to El Paso. “Kim makes the case that El Paso, once home to plants for denim companies including Levi’s and Wrangler, has abundant skilled laborers, fewer regulations, much cheaper rent and direct flights from Los Angeles.”

California has long had a tenuous grasp of what the rest of us regard as consensus reality. But two new pieces of legislation suggest they’ve gone off the deep end into full Victimhood Identity Politics land:

Of course, that’s not all that’s new on the Texas vs. California front:

“California taxpayers paid out big bucks to state workers in 2014. How much? More than the Gross Domestic Product of 100 countries, according to new data published by the State Controller’s office. In 2014, more than 650,000 state employees earned a total of $32 billion in wages and benefits.” It gets better: “Nine hundred sixty-nine state employees earned more than the President of the United States.” Added irony:

The lowest paid average workers represented agencies focused on the environment, women and people with disabilities. According to the state’s 2014 payroll data, the average salary for the 11 state employees at the California Commission on Disability Access was just $15,213 per year, slightly more than the $14,494 average salary paid to the four employees at the Commission on the Status of Women.

TV’s CHiPS never seemed to be involved in ethics scandals the way the current administration is, including no-bid contracts to European companies. (Bonus: it’s also suitable for Dwight’s Art Acevedo watch.)

Politicized or not, the DOJ will be increasingly boxed in by the FBI and intelligence community investigations. Normally, when the intelligence community finds classified materials in unauthorized locations, it seeks felony prosecutions. Gen. David Petraeus was sunk for keeping his own personal calendars in an unlocked drawer at home. The calendars were deemed classified, even if they lacked an official stamp. President Clinton’s CIA Director, John Deutsch, lost his job and security clearance for using his portable computer at home. It had classified material on it. Those violations are trifling compared to Hillary Clinton’s exposure.

China devalues the Yuan. This is Big Freaking News, but hard to conceptualize, since China’s economic statistics are have not even a nodding acquaintance with reality, and haven’t for at least a decade. So is China’s current bubble bad, or super mega world-shatterling bad?

Will Franklin looks at local bond debt in Texas. It’s creeping up, partially due to big government advocates scheduling off-year bond elections when fewer people are voting. Even so, voters seem willing to reject big-ticket bond items.

And San Bernardino is planning to outsource their firefighting operations, not least of which because the fire department sucks up $7 million worth of overtime a year. And the fact their union stopped participating in bankruptcy talks didn’t help… (Hat tip: Pension Tsunami.)

“In another corporate exodus from Torrance, California, to North Texas, Kubota Tractor Corp. and Kubota Credit Corp. announced Thursday that they will move their headquarters to Grapevine from the Los Angeles area.”